JPMorgan Chase & Co. Purchases 12,306 Shares of Bank First National Corporation $BFC

Key Points

• JPMorgan Chase increased its stake in Bank First National by 87% in Q3, buying 12,306 shares to hold 26,452 shares valued at about $3.21 million (roughly 0.27% of the company).
• Strong quarterly results: the bank reported EPS of $2.00 (vs. $1.75 consensus) and revenue of $49.68 million (vs. $43.75 million), with a 29.31% net margin and 11.61% ROE.
• Dividend raised: the company boosted its quarterly dividend to $0.50 (annualized $2.00) from $0.45, implying a ~1.5% yield; the dividend is payable April 8 with record date March 25.

JPMorgan Chase & Co. raised its position in Bank First National Corporation (NASDAQ:BFC - Free Report) by 87.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 26,452 shares of the company's stock after buying an additional 12,306 shares during the period. JPMorgan Chase & Co. owned 0.27% of Bank First National worth $3,209,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Principal Financial Group Inc. bought a new position in shares of Bank First National in the third quarter valued at approximately $2,495,000. Citigroup Inc. lifted its holdings in Bank First National by 299.4% during the third quarter. Citigroup Inc. now owns 17,151 shares of the company's stock worth $2,081,000 after acquiring an additional 12,857 shares during the period. Osaic Holdings Inc. boosted its position in Bank First National by 177.1% in the second quarter. Osaic Holdings Inc. now owns 14,292 shares of the company's stock worth $1,682,000 after purchasing an additional 9,135 shares during the last quarter. Rafferty Asset Management LLC purchased a new position in Bank First National in the third quarter worth $2,993,000. Finally, Quantbot Technologies LP bought a new position in Bank First National in the 3rd quarter valued at $713,000. Institutional investors own 29.95% of the company's stock.

Insider Buying and Selling at Bank First National

In other news, Director Steven M. Eldred sold 8,000 shares of the stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $151.95, for a total value of $1,215,600.00. Following the sale, the director directly owned 125,680 shares of the company's stock, valued at approximately $19,097,076. This represents a 5.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.42% of the stock is currently owned by corporate insiders.

Bank First National Stock Performance

Shares of Bank First National stock opened at $136.99 on Friday. The stock has a market capitalization of $1.53 billion, a P/E ratio of 18.95 and a beta of 0.40. Bank First National Corporation has a 52-week low of $93.00 and a 52-week high of $152.99. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.00 and a current ratio of 1.00. The stock's 50-day simple moving average is $139.30 and its 200 day simple moving average is $131.33.

Bank First National (NASDAQ:BFC - Get Free Report) last issued its earnings results on Thursday, January 22nd. The company reported $2.00 earnings per share for the quarter, topping analysts' consensus estimates of $1.75 by $0.25. Bank First National had a net margin of 29.31% and a return on equity of 11.61%. The firm had revenue of $49.68 million during the quarter, compared to analyst estimates of $43.75 million. As a group, research analysts anticipate that Bank First National Corporation will post 6.9 EPS for the current year.

Bank First National Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 8th. Shareholders of record on Wednesday, March 25th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Wednesday, March 25th. This is a boost from Bank First National's previous quarterly dividend of $0.45. Bank First National's payout ratio is presently 27.66%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on BFC. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Bank First National in a research report on Wednesday, January 21st. Scotiabank raised shares of Bank First National to a "sector outperform" rating in a report on Monday, January 26th. Zacks Research lowered shares of Bank First National from a "strong-buy" rating to a "hold" rating in a research report on Thursday, March 26th. Wall Street Zen downgraded shares of Bank First National from a "hold" rating to a "sell" rating in a report on Saturday, February 14th. Finally, Piper Sandler boosted their target price on shares of Bank First National from $142.00 to $150.00 and gave the company a "neutral" rating in a research note on Monday, January 26th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, Bank First National presently has a consensus rating of "Moderate Buy" and a consensus target price of $150.00.

Bank First National Company Profile

Bank First National Corporation NASDAQ: BFC is the bank holding company for Bank First National, a community bank headquartered in Princeton, Wisconsin. The company offers a comprehensive suite of financial services designed to meet the needs of individuals, families, small businesses and agricultural clients. Through its branch network and digital channels, Bank First National provides deposit accounts, consumer and commercial lending, mortgage financing and treasury management solutions.

The bank's core deposit products include checking and savings accounts, money market funds and certificates of deposit, complemented by online and mobile banking platforms that enable customers to manage their finances remotely.

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